ADB raises $4bn on global bond markets

The Asian Development Bank (ADB) issued a US$4bn bond on Wednesday in its largest ever deal, soaking up demand from international investors for Sovereign Supranational Agency (SSA) exposure to the multilateral’s portfolio.

The mega benchmark issue beats the record US$3.25bn bond issued by the Manila-based lender in its 2016 funding round on the global capital markets.

The funding however is a drop in the ocean given the size of Asia’s infrastructure needs, estimated at $26 trillion before 2030, or $1.7 trillion a year, according to the ADB’s recent report Meeting Asia’s Infrastructure Needs.

Bambang Susantono, Vice President of the ADB, and Michael Rattinger, ADB’s Vice Climate Change Specialist, will elaborate on investment priorities for the region at a conference at Asia House on Friday morning